Brief Overview
Loan Scenario:
Successful repeat borrower sought a $330,000 2nd Trust Deed business purpose cash out loan on this owner-occupied SFR property in Woodland Hills, Los Angeles County, CA. The funds from this loan will be used to pay off business-purpose junior liens in good standing that are maturing, and the balance will be invested in the borrower’s chiropractic business in Burbank. The borrower’s 1st mortgage has a principal balance of $584,899 with a fixed interest rate of 2.00%, maturing September 1, 2037, and a PITI payment of $2,314/mo.
Property Description:
The subject property is a contemporary style, one-story, SFR featuring 1,947 SF total living space with a total of 6 rooms, 3 Bedroom / 2 Bathrooms and an attached 2-car garage sitting on a .26 acres lot. The subject property is very well located near many parks such as Calabasas Park and “Top of Topanga Overlook”, local schools, and shopping centers. The subject property is near the 101 FWY.
- What we like about this Trust Deed opportunity:
- SFR in suburban Woodland Hills neighborhood
- Low 2.00% 1st TD Mortgage
- 64.89% CLTV
- 63.87% Net CLTV
- 4 months Prepaid Interest
- 6 months Guaranteed Interest
